Prices of consumer goods and services recorded a 10% annual increase

The harmonized consumer price index recorded in July an annual increase of 10.6%.

According to the Statistical Service of Cyprus, in July 2022 the Harmonized Index of Consumer Prices increased by 10.6% compared to July 2021, while compared to the index of June 2022, the HICP increased by 1.7%.

For the period January - July 2022 the HICP recorded an increase of 7.7% compared to the corresponding period of the previous year.

Meanwhile, compared to July 2021, the largest changes were noted in Housing, Water, Electricity, Gas and Other Fuels (30.7%) and Transport (21.8%). Compared to June 2022, the largest change was recorded in the category of Clothing and Footwear (-11.3%).

For the period January - July 2022, compared to the corresponding period of the previous year, the largest changes were noted in Housing, Water, Electricity, Gas and Other Fuels (20.3%), Transport (15.5%) and Food and Non-Alcoholic Beverages (9.0%).

Consequently, the largest change when compared both to the index of July 2021 and to the index of the previous month, was observed in Energy with percentages of 49.0% and 6.9% respectively.